The world’s ability to check the coronavirus contagion and fully recover from the worst peacetime recession since the Great Depression may depend on what international economic policy makers decide this week.
With emerging markets and developing nations facing health emergencies, collapsing demand and cash crunches, the guardians of the global economy are under the gun to ease the strains at this week’s video meetings of the International Monetary Fund and World Bank.
"It’s a make-or-break moment,” said former IMF chief economist Maury Obstfeld. "This may be the greatest global crisis we’ve faced in the postwar period.”
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